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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand picked up in line with the start of the global economic recovery.
PT Adaro Energy, the country’s third-largest coal producer, announced on Wednesday that net profit more than quadrupled to a record high of Rp 4.4 trillion ($484 million) last year from Rp 887 billion in 2008.
Meanwhile, PT Bayan Resources, one of the top 10 producers, said in a statement that net profit soared to Rp 136.29 billion from Rp 20.71 billion.
Ario Rachmat, Adaro Energy’s vice president director, attributed the profit growth to higher average selling prices of coal as well as increased production.
He said that although demand was weak in the first quarter of 2009, conditions improved in the second half of the year, with greater demand pushing prices higher and increasing revenue.
Adaro’s average selling price last year was $59.3 per ton, up 52 percent from $39 per ton in 2008. The price realized last year was based on a contract made in 2008.
In 2009, Adaro’s revenue grew 49 percent to Rp 26.9 trillion.
Bayan’s revenue rose 59 percent to Rp 7.75 trillion last year from Rp 4.88 trillion in 2008.
Weather conditions last year were favorable for coal miners. Adaro’s production increased to 40.6 million tons from 38.5 million tons a year previously.
The Jakarta-listed company has said it aimed to increase production by 10 percent this year and planned capital expenditure of $300 million to $350 million to help achieve that target.
Adaro said it had signed an agreement with global mining giant BHP Billiton to develop BHP’s mines jointly in Indonesia. Adaro will get shares in BHP’s coal-mining units, including PT Maruwai Coal, PT Juloi Coal, PT Kalteng Coal, PT Sumber Barito Coal, PT Lahai Coal, PT Ratah Coal and PT Pari Coal.
“We will have 25 percent stakes in each of the mines,” said Andre Mamuaya Adaro’s corporate secretary.
Frederick Daniel Tanggela, an analyst at PT Sucorinvest Central Gani, said the coal industry was expected to suffer a slowdown this year because of lower prices.
He said Adaro’s higher production would offset the lower prices, allowing the company to enjoy higher revenue. “But we project that Adaro’s net profit will decline by 5 percent this year,” he said.
Meanwhile, PT Energy Mega Persada, an oil and gas company affiliated with the Bakrie group, reported that its net loss in 2009 widened to Rp 1.7 trillion from a Rp 35 billion loss in 2008 because of a lower realized oil price.
Revenue dropped by 22 percent to Rp 1.44 trillion from Rp 1.85 trillion, it said.
“The oil price dropped by 38 percent last year compared with 2008,” said Imam Agustino, president director of Energy Mega Persada.
Source: The Jakarta Globe ( By: Yessar Rosendar)
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Monday, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Eastern Energy - Thailand
- SMC Global Power, Philippines
- The University of Queensland
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- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
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